Credit/Debit Processing Programs

We are proudly processor agnostic. Meaning, we do not sell for one particular processor. We have access to dozens of processing solutions but the question is which one solves your most pressing problems? Below, we have summarized several of the more popular processing solutions available today. The best way to drill down and see what processing program may be most suited for you is to schedule a Current State Discovery Call with a follow up Future State Proposal.

Why Credit & Debit

While this may seem like a trivial question, it is anything but. You would be surprised how many businesses either don’t accept credit and/or debit card payments or they are paying so much in processing fees that it doesn’t make financial sense to continuing offering this form of payment. Others, look at ‘plastic’ payments as a cost of doing business and are simply a necessary evil. Credit card processing costs are typically a top 5 cost of staying in business. This mostly applies to retail environments but nonetheless, credit card acceptance costs can be significant for almost every business type.

The skepticism makes a lot of sense when you consider that almost 3/4 of all credit cards issued today are tied to some kind of cardholder benefit while the merchant pays the processing fees. In our experience, the question isn’t really should you accept credit or debit cards but what type of credit/debit program should you be aligned with?

With the card brands offering more flexibility and legislation finally catching up, there are many viable credit/debit options for almost every business need and desired outcome. Gone are the days when one option was your only option. Today, technology, creativity and competitition have opened up compliant credit/debit choices that are impossible to ignore.

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Interchange +

Eliminate as much friction as possible for timely receivable paymentz. Most written/printed checks are friction and are done when it’s convenient or for B2B’s and B2G’s when their payable runs are scheduled. Meaning, you get paid when it’s best for them.

With our platform, you set it, forget it and then see it (in your bank account).  Paymentz minimizes ‘float’ by lessening friction to pay. Many consumers, businesses, government entities want to use their credit/debit cards for convenience, speed, deferred payment and all the perks that run with using these cards. Let them! Others, prefer to use electronic checks (or ACH) so as to avoid finance charges and the headaches of processing paper checks.

We urge you to let you customers pay how they prefer but that speeds up the process for you to get paid faster.

If you are a B2B, we urge you to learn more about Interchange Optimization with Level 2 & 3 processing.

Cash Discount

We have several processors that offer cash discount programs. Cash Discounting is ideal for merchants that have low inventory and are willing to mark up the costs of their goods and/or services prior to any sale being made. 

Essentially, you are absorbing all processing costs via the markup costs. If someone pays with csh, you are giving them a cash discount. It’s an amazing program when done correctly and with the proper disclosure. 

*A quick disclaimer: many merchants believe that they can do the same thing on their own with regular interchange rates. In theory it’s possible but in practice, you are increasing your costs, cost of goods, services and effectively your taxes as well.

Give us a call, we’ll tell it to you straight.

Duel Pricing

Duel Pricing is often confused with cash discounting. While they have some similarities, they are very different. Duel pricing is simply a compliant markup to cover credit card processing costs. Whereas, cash transactions are not receiving a discount. Both transaction costs are listed giving your customers and clients the option of paying cash or credit.

Duel pricing can be utilized with low or high inventory offerings. No markup is necessary since each cost is listed.

Duel pricing, like cash discounting can eliminate or great reduce your credit card processing costs.

Hybrid

This program one of our favorites. It gives your customers and clients the option of paying by debit or credit. For credit transaction, the cost is absorbed by your customers and clients. When they use a debit card, you, the merchant pay the fees.

Hybrid Programs are flexible and can separate debit and credit cards (online and in-person). Hybrid Programs can save you a ton since you don’t have to pay for credit card processing fees but unlike Cash Discounting or Duel Pricing, Hybrid Programs cannot eliminate your processing costs.

*For in-person transactions, a specific terminal is required. *For online transactions, specifically our Paymentz Platform, Hybrid Programs are a fantastic option.

Choice

This program is so unique that we had to offer it to those merchants that wanted an alternative to Cash Discounting or Duel Pricing. Rather than passing on 100% of the processing costs to your clients and customers, you get to choose the split. With Choice, you decide the percentage of what you will pay and what your clients and customers will pay. 

Choice is a great alternative if your are not quite there yet with Cash Discounting or Duel Pricing. 

*Choice is compliant in 48 states. Colorado is now compliant as of July 1, 2022. 

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